Tag Archives: Eco Trade

Business, Finance, Occupation & Industry

Eco-Trade Corp. Announces Letter of Intent for $5 Million Financing

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By Business Wirevia The Motley Fool

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Eco-Trade Corp. Announces Letter of Intent for $5 Million Financing

Oil Company to develop first well on its Property in the Alberta Bakken Fairway in Montana

GREAT FALLS, Mont.–(BUSINESS WIRE)– Eco-Trade Corp. (OTCQB:BOPT), an independent oil and gas exploration Company, announced today that it has signed a letter of intent with Ambrosia Holding and Finance ltd. (Ambrosia) for a $5 million dollar financing for the development its first Bakken well. Ambrosia is a private syndicate fund based in London, England and Geneva, Switzerland.

Ambrosia and the Company shall be executing a mutually acceptable definitive legal documentation for the transaction whereby Ambrosia will commit an initial $5 million on a “Farm-In” agreement for drilling of the first well on the Company’s property. Subject to the definitive agreement, the funds shall be used by the Company for exploration and drilling of a petroleum well (Oil and/or Gas) at the Prospect.

Manoli Vaindirlis, Managing Director of Ambrosia, stated, “We are extremely excited to have the opportunity to work with Eco-Trade on the development of the first well on this very dynamic property in the Bakken. Our historic investment portfolio to date has included resource and international oil and gas, and this first foray into what may be the most exciting oil find in North America, has us focused on efforts to close and drill as expeditiously as possible.”

Leasing and drilling activity in the Bakken Fairway region has increased dramatically since late 2010. Over 60 wells have been drilled in Alberta and Montana with the Bakken as the principal target and over 30 of these wells were vertical wells with the primary purpose of delineating the Bakken formation. In Montana, Rosetta and Newfield are considered to be the most active drillers with over 12 wells each. In Alberta, it is Crescent Point, Murphy Oil and Shell who are the most active Bakken drillers. Analyst Wood Mackenzie estimated 2.6 Billion BO may be recovered from the Bakken Fairway.

Eco-Trade CEO, Canon Bryan, noted, “Our policy is to focus on our core competency of building a financial model that is profitable and structuring additional asset-bases through potential acquisitions of high value properties. The Company outsources its drilling operations to key-trusted partners who propose, permit and engage in the drilling process. By managing our operations in this manner, we are able to keep costs low and margins relatively high. And

From: http://www.dailyfinance.com/2013/04/12/eco-trade-corp-announces-letter-of-intent-for-5-mi/

Business, Finance, Occupation & Industry

Eco-Trade Corp. (BOPT) Announces Anticipated Receipt of Independent Engineering Report from Renowned

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By Business Wirevia The Motley Fool

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Eco-Trade Corp. (BOPT) Announces Anticipated Receipt of Independent Engineering Report from Renowned Firm That Has Been Engaged to Provide Reserve Estimates

Company positioned in middle of newest major oil play in America

GREAT FALLS, Mont.–(BUSINESS WIRE)– Eco-Trade Corp. (OTCQB: BOPT), an independent oil and gas exploration Company, announces its anticipated receipt of an Independent Engineering Report through the Company’s engagement of Integrated Petroleum Technologies Inc. (IPT) to provide an Engineering Report on its Bakken Prospect.

IPT is a petroleum engineering services company managed by practicing petroleum engineers that have extensive operator and service company experience. They specialize in most aspects associated with the preparation of reserve reports, integration of modern well completion, hydraulic fracture stimulation and petroleum reservoir engineering technologies in horizontal and vertical wells. IPT has a very large number of clients and is very well respected in the industry by major oil and gas companies. Please visit their client page at http://www.iptengineers.com/IPT-Clients.HTML.

Energy companies update their investors on the amount of oil and natural gas reserves they have access to through a reserve update. This update typically includes proved, probable and possible reserves, and is similar to an inventory report that a retailer might provide to investors.

The total amount of reserves that a company estimates having access to, is calculated as the sum of all proved and unproved reserves. Unproved reserves are broken into two segments: those based on geological and engineering estimates from proved sources (probable) and those that are less likely to be extracted due to financial or technical difficulties (possible).

Once the Company has received this report it will be able to file with The United States Securities and Exchange Commission which permits oil and gas companies to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions.

Canon Bryan, CEO of Eco-Trade, noted, “Our first goal is to identify oil and gas property targets in areas known to have production and/or strong production potential. By mitigating risk early on, we have the potential for strong upside economics with higher than industry average margins.”

About Eco-Trade

Eco-Trade is fully-reporting, independent oil and gas exploration company, that has drilling and production rights on a property in Lewis & Clark County in

From: http://www.dailyfinance.com/2013/04/11/eco-trade-corp-bopt-announces-anticipated-receipt-/